<p><em>ICAI urged to develop cost beneficiary price mechanism for North East, reports <strong>Arshad Khan</strong></em><br><br>The Modi led NDA government has urged the Institute of Chartered Accountants of India (ICAI) to develop a cost beneficiary price mechanism to facilitate the development of North Eastern region of the country. Jitender Singh, MoS, Development of North Eastern Region (DoNER) said that food processing industry is one sector where ICAI can develop a cost beneficiary tool to reduce the wastage.<br><br>Singh also said that the government is in talk with the neighbouring country Myanmar, Bhutan and Bangladesh to uplift the food processing industry in the region. “40 per cent of fruits in the region go waste as there is no proper infrastructure to sustain them. It is a very cost effective entrepreneurship to invest in the food processing industry of the region. ICAI can play a crucial role in formulating a cost effective model for the sector,” said Singh in an event organised by ICAI in Delhi today (July 7)<br><br>For the current status of the development work in the region he said,“the present government is developing a fast track model which will increase the connectivity of the region with rest of the country. Each month we are holding a meeting in the region to give the natives a message that Delhi is going hand on hand with you.” He further added that he will request the PM to prepare a draft for involving the apex cost accountant body to develop a cost effective model.<br><br>PM Modi after coming to power in 2014 has formulated certain policies like changing Look East to Act East policy to improve connectivity and for rapid development of the north-eastern region. On his visit to the region in February this year he proposed Rs 28,000 crore package for laying new railway lines in the region. The appeal to ICAI is part of this.</p>
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